Adidas (OTCMKTS:ADDYY) Sees Large Volume Increase – Here’s What Happened

Adidas AG (OTCMKTS:ADDYY) shares saw an uptick in trading volume on Monday . 173,203 shares traded hands during trading, an increase of 147% from the previous session’s volume of 69,988 shares.The stock last traded at $99.5765 and had previously closed at $98.19.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Bank of America reaffirmed an “underperform” rating on shares of Adidas in a report on Tuesday. Sanford C. Bernstein restated an “outperform” rating and issued a $146.02 price objective on shares of Adidas in a research note on Tuesday. BTIG Research initiated coverage on shares of Adidas in a research note on Tuesday, October 14th. They set a “neutral” rating for the company. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Adidas in a report on Wednesday, December 10th. Three investment analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $146.02.

Adidas Stock Down 2.0%

The firm has a market capitalization of $33.42 billion, a price-to-earnings ratio of 24.50, a price-to-earnings-growth ratio of 0.39 and a beta of 1.20. The business has a 50 day moving average of $94.43 and a 200 day moving average of $103.38. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.31 and a quick ratio of 0.71.

Adidas (OTCMKTS:ADDYY) last posted its quarterly earnings results on Wednesday, October 29th. The company reported $1.50 earnings per share for the quarter, missing analysts’ consensus estimates of $1.57 by ($0.07). Adidas had a return on equity of 20.72% and a net margin of 5.00%.The business had revenue of $7.73 billion for the quarter, compared to analyst estimates of $6.22 billion. On average, equities analysts anticipate that Adidas AG will post 2.27 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC grew its stake in shares of Adidas by 30.1% in the 2nd quarter. GAMMA Investing LLC now owns 1,375 shares of the company’s stock valued at $161,000 after purchasing an additional 318 shares during the period. Yousif Capital Management LLC lifted its position in shares of Adidas by 9.4% during the 2nd quarter. Yousif Capital Management LLC now owns 5,221 shares of the company’s stock worth $607,000 after buying an additional 450 shares during the period. Rhumbline Advisers boosted its stake in Adidas by 7.9% in the 1st quarter. Rhumbline Advisers now owns 9,655 shares of the company’s stock valued at $1,139,000 after buying an additional 709 shares in the last quarter. Mar Vista Investment Partners LLC grew its position in Adidas by 4.0% in the second quarter. Mar Vista Investment Partners LLC now owns 30,337 shares of the company’s stock valued at $3,550,000 after acquiring an additional 1,180 shares during the period. Finally, Madison Asset Management LLC grew its position in Adidas by 11.5% in the third quarter. Madison Asset Management LLC now owns 20,442 shares of the company’s stock valued at $2,166,000 after acquiring an additional 2,110 shares during the period.

About Adidas

Adidas AG is a global designer, manufacturer and marketer of athletic footwear, apparel and accessories, headquartered in Herzogenaurach, Germany. Founded by Adolf “Adi” Dassler in 1949, the company has grown into one of the world’s leading sportswear brands, offering products for running, soccer, basketball and a wide range of other sports as well as lifestyle and fashion markets.

Adidas’s product portfolio includes performance footwear, sports apparel, team uniforms, equipment and accessories sold under the Adidas brand and through various collaborations.